Yesterday: "Stocks Soar on Europe Bailout"
Whattttt? It won't solve the crisis? You are KIDDING me! (/sarcasm)
Related: I strongly recommend reading this NY Times article about NY State Employees reacting (negatively) to mandatory 1 day work furloughs.
"Mr. Paterson announced last week that he would pursue the furloughs after the unions refused other concessions to save the state money, like giving up a 4 percent raise or delaying employees’ paychecks by several days. The one-day furlough is expected to save the state about $30 million, and the governor has said he would seek additional furloughs every week until the Legislature reaches a deal with him on the state budget, which is now nearly six weeks late.
The furloughs will exclude most public safety and health workers like State Police troopers, correction officers and nurses."
Seems New Yorkers don't like austerity any more than Greeks do...
-KD
6 comments:
Hi KD, I’m enjoying your posts. If you don’t mind sharing (in % of your assets terms, not $ terms), how are you positioned now after this crazy past week? In all of my invest-able assets (i.e. discretionary trading, retirement, cash, and cash-like accounts), I’m about 33% in cash. Of the amount that I’m invested, I’m 70% US, 30% Asia, and obviously 0% Europe/other. No longer own commodities. Of my individual holdings, my biggest three now are TIP, CRM, and CTCT.
What do your cash v. invested and also geographical %s look like?
let's see... my positions are a little hard to quantify right now because i have some funky options spreads on: SPY 1x2 (115-110) put spread in May, SPY 1x2 call spread (125-130) in SEP. My biggest longs are GLD SLV CEF and TBT, totaling about 30% of my portfolio value. I also own HOLX, and a little XLP and PHO - but those two are pretty much non events as far as movement or PnL goes.
my biggest shorts are XLF (10%), and then i have some MGM puts and and LVS put spread. (about 5% of my portfolio value)
then i'm largely cash. 50%.
nothing international right now.
Sweet. I'm surprised that more people aren't open to discussing what they hold (in % terms, not $ terms of course). Some of the best discussions that I've had as an investor have happened when I've shared what I hold and push back on ideas that others hold. And since stocks aren't directly a zero sum game, having people roughly know your positions won't affect your outcome since the market is so big. Thanks for sharing.
i don't like to discuss my holdings because this blog is ABSOLUTELY NOT a recommendation to buy or sell any securities... and i don't want it to be a stock picking / stock touting blog. also, if you do what i do, you'll probably lose money ;-)
when i have a position in something i'm writing about, i disclose it.
I understand everything you mean in what you said in your last post and agree that it's probably best and easiest for you not to go down the Cramer path i.e. being a vocal and public stock picker.
Keep up the great writing.
Not for nothing, but talking your own book is always good for your portfolio. Everybody on the street does it.
Mark Cuban summed it up best, "Get long, get loud".
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